International Investors Gold FundIIGCX

  • Daily Price   as of 07/29/16

    NAV DAILY CHANGE
    $11.88 $0.37 / +3.2%
  • Class C Details: IIGCX

    INCEPTION DATE GROSS/NET EXPENSES1
    10/03/03 2.22%/2.20%
  • Commentary: June 2016

    Joe Foster Commentary Tab

    By: Joe Foster, Portfolio Manager

    Gold Bull Market Gains Momentum

    In June, several macroeconomic surprises around the globe raised financial risks, and propelled gold to new, near-term highs. On June 24, the day following the historic Brexit decision, gold soared to a two-year high of $1,359 per ounce, and finished the month at $1,322.20 for a $106.87 (8.8%) per ounce gain. As has been the case all year, gold stocks reacted strongly to the move in gold bullion.

     

    Gold Investors are Being Proactive, Rather Than Reactive

    Throughout June, strong investment demand continued, as demonstrated by inflows into gold bullion exchange traded products (ETPs). Inflows have not been this strong since 2009 when investors sought out bullion after the subprime credit crisis. A key difference in today's market is that investors are being proactive rather than reactive. Many are seeing the looming potential for another financial crisis and making a strategic allocation to bullion as a hedge against systemic risk.

    Read the full June Blog Post: Setting the Stage for the Next Gold Bull Market »

    Download June Commentary »

  • Video Viewpoint: Gold

    Gold Bull Market Momentum to Continue in 2016

    Joe Foster
    Portfolio Manager

    Joe Foster, Portfolio Manager, explains why he believes the 2016 gold rally may continue as global financial uncertainty surrounding central bank policies potentially propel gold to new highs.

    View now »


    Higher Prices Help Gold Miners Refocus on Profitability

    Imaru Casanova
    Senior Analyst

    “Companies are still very much focused on efficiencies, operating improvements, and cost savings. But with higher gold prices, the conversation has switched back to how best to deploy new cash flow to enhance future growth and profitability.”

    View now »


    Gold Rebounds in 2016

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Investors have a heightened sense of financial risk, and in this type of environment, they will look to gold as a safe haven. The U.S. dollar may be the first safe haven of choice, but when it looks shaky, investors turn to gold."

    View now »


    Is Gold Still a Safe Haven Asset?

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "You look around the world and you’re likely to find someplace where gold is probably being used as a safe haven"

    View now »


    Economics of a Gold Mine

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Mines are redesigned yearly if they need to be, and with the collapse of gold in 2013, we saw widespread revisions. Today, the industry is geared at a $1,100 gold price in terms of mining plans, with all-in sustaining costs for the mines at approximately $920 an ounce."

    View now »


    What a Rate Hike Means for Gold

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "I think eventually a rate increase will create financial risks and unintended consequences that will drive gold higher. Whether that happens in the near term or the long term is anyone's guess."

    View now »


    Gold Outlook: Dollar Strength, QE, and Deflationary Concerns

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "If those deflationary concerns ever creep into the U.S. economy, I think you would see the dollar weaken and gold strengthen."

    View now »


    Finding the Next Generation Gold Company

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "Gold companies must create value in order to be successful, and there are several ways that a gold company does this. The most effective way is through discovery."

    View now »


    M&A in Gold: Reining in Costs and Sustainability of Super Majors

    Joe Foster
    Portfolio Manager and Strategist, Gold and Precious Metals

    "[Companies] such as Barrick, Newmont, and AngloGold went through a period of conglomeration when large companies were merged together to create what we call "super-majors” and it's very hard to sustain the super major model."

    View now »


    Global Research: Mining in Burkina Faso

    Joe Foster and Ima Casanova
    Gold Investment Team

    "We invest across the spectrum, but in Burkina, it is mostly mid-tier and junior companies that are active. Most of Burkina’s gold deposits are moderate to smaller-sized, so we find smaller companies there. Because of the favorable operating environment, there are quite a few interesting opportunities."

    View now »


    CEO Jan van Eck: Fed's Rate Delay is Disappointing

    Jan van Eck
    CEO

    "The Fed’s decision was a bit of surprise to us, because we had been looking at the U.S. labor market statistics. Unemployment has been falling, and we thought that this was good enough data for the Fed, which is very data driven..."

    View now »


  • The Many Uses of Gold

    Gold Globe

    As far back as 1500 BC, Egyptians and other ancient peoples used gold for currency, and its importance has not waned since. In today’s world, we may not carry gold coins in our pockets, but gold remains one of the most highly valued commodities for cultures across the globe.

    Sound Currency
    Gold’s historic role as a sound currency alternative is recognized universally — from farmers in India whose high-carat jewelry is a form of savings, to investors in the West who accumulate coins and bars, to central bankers around the globe who hold gold in their foreign exchange reserves.

    Powerful Investment Tool
    Today, gold is recognized as a potentially powerful tool in an investment portfolio. Gold may:

    • Keep pace with inflation and offer a hedge against currency devaluation.
       
    • Generate positive returns in periods of economic stress and political/economic upheaval.
       
    • Provide diversification through a low correlation to the movements of the financial markets.
       

  • Additional Resources

     
  • Important Disclosure

    Portfolio facts and statistics are shown for Class A shares only unless otherwise noted; other classes may have different characteristics

    NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge. See the prospectus and summary prospectus for more information.

    1Expenses are calculated for the 12-month period ending 05/01/16: Class A: Gross 1.43% and Net 1.43%; Class C: Gross 2.22 and Net 2.20%; Class I: Gross 1.07% and Net 1.00%; and Class Y: Gross 1.21% and Net 1.10%. Expenses are capped contractually through 05/01/17 at 1.45% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.10% for Class Y. Caps exclude certain expenses, such as interest.

    2The NYSE Arca Gold Miners (GDMNTR) Index (the "Index") is a Net Total Return modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world. The U.S. Dollar Index (DXY) indicates the general international value of the U.S. dollar. The DXY does this by averaging the exchange rates between the U.S. dollar and six major world currencies. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    The views and opinions expressed are those of VanEck. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with concentrating its assets in the gold industry, which can be significantly affected by international economic, monetary and political developments. The Fund’s overall portfolio may decline in value due to developments specific to the gold industry. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, or political, economic or social instability. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities, CMOs and small- or mid-cap companies. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus and summary prospectus for information on these as well as other risk considerations.

    Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.